AT&T CEO Stephenson Says Time Warner Deal Needed in Content-Dependent World

Chief Executive Officer of AT&T Randall Stephenson arrives at a U.S. District Court in Washington, D.C. on Apr. 19, 2018. REUTERS/Carlos Barria

By Diane Bartz and David Shepardson

WASHINGTON—AT&T CEO Randall Stephenson said on Thursday his company’s bid to buy movie and TV show maker Time Warner would allow the two firms to serve customers better by lowering pay TV rates, rejecting government arguments the deal would raise consumer prices.